Think Progress: On Thursday, Mitt Romney campaigned at the headquarters of Solyndra — the first renewable energy company to receive a federal loan under the stimulus — and reiterated his debunked claims that its bankruptcy symbolized the corruption and cronyism of the Obama administration. But just one day later, a solar panel developer “that landed a state loan from Mitt Romney when he was Massachusetts governor” went belly up, the Boston Herald reports, creating an inconvenient storyline for the GOP presidential nominee. The company, Konarka Technologies, “filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate”
Putting aside what a dishonest hypocrite this makes Willard Romney, criticizing what Obama - and what he himself did - bodes ill for America should he become president. Government money to basic R& D and for industries what will lead us to an economic competitive advantage over the rest of the world is vital to the future of the country. Very little significant basic R&D gets done without government support. It's too expensive, too risky, to hit and miss to be consistently profitable. Al Gore fought for government money to create the internet and he and other good Americans invested public money into what eventually paid off in the tech boom. Biotech and clean energy will be the next booms. We need public money to those sectors. That's good public policy But as they do with public education, infrastructure spending, the safety net and other investments in the future of the country, Republicans don't give a rip. This story is yet another reminder of that fact.
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